Paddy Power on a winner as its profits jump

It told investors today it expects profits for the year to be up to 20% better than they were last time.

Although trade has been slow in the Irish betting shops, the digital arm is more than making up the difference. Paddy says it made almost as much profit through its website and mobile phone applications in the six months to June 30 as it did overall in the first half of 2010.

It said its gross win - winnings before expenses - grew by 12% year-on-year from July 1 to 14 November. The amount staked by punters rose by 13%.